Skip to main content

tv   Varney Company  FOX Business  May 7, 2013 9:20am-11:01am EDT

9:20 am
♪ ♪ imus in the morning ♪ >> president obama, who is all government, all the time, talks job creation. he's going to the anti-government state of texas to do it. good morning, everyone. talk about opposites, in austin this week, president obama will call for more government spending. he says that's the way to create jobs. he makes his pitch in texas. the home of private enterprise. we've the got a warning for you. watch out for hacking attacks today. our banks and brokers are the targets. and separately the pentagon says china is behind attacks on
9:21 am
military computers and the pentagon pointing the finger. and stocks are going up again. and yes, "varney & company" is about to begin. the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown nfirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪
9:22 am
9:23 am
>> this is job creation week for president obama. he is talking jobs and he's headed to texas to do it. now, the economy is texas is booming. lower taxes, less regulation, and they're drilling for oil and gas. that's got strong growth going in the lonestar state and lower unemployment. doesn't that sound like the approach, more spending, more regulation and green energy? here is jay carney explaining the reason for the president's trip. >> out in the country there are positive things happening and that only reinforces the need o to-- the need for washington to do some very simple things to help facilitate economic growth and
9:24 am
job creation, to help enhance the prospects of the middle class rising and thriving. >> kind of painful, wasn't it, a backhanded compliment to texas? and here is governor perry's response to the trip. >> if president obama is serious about getting the our economy working again? then he has come to the right place. it's going to be very interesting to see how the establishment media reports this texas event later on this week. all right, everybody, we are looking the at the market very firmly today. and record highs, ben keeps on printing, stocks keeps going up. after the break, someone says that ben has got nothing to do with it because stocks are cheap. do you agree with that? otherwise, they're buying again this morning and you will he see that dow go up moments from now. this is america.
9:25 am
9:26 am
we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur
9:27 am
and don't get heartburn in the first place! all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers.
9:28 am
>> all right. everybody, the next couple of minutes, if you own stocks in any way, shape or form, it's going to be exciting. we're going to be very close to 15,000 if not breaking above it all over again. yesterday, we closed 31 points shy of 15 k. and looks like 40 points for the opening and so we should break 15k today. i want to bring in dan in
9:29 am
illinois. before we look at the markets, i hear they're going to consider fracking in southern illinois. how do you feel about fracking in your back yard, dan? >> i love the idea of fracking, anything that can get us independent from the middle east. but i worry about the politicians who do that with a good thing going. stuart: we're probably going to hit 15,000 soon on the opening bell and say like everybody else, it looks like this market just wants to go up. still fair? >> it most certainly does. the numbers last week, the employment were a little better so that took some of the fear out of it. we'll hit 15,000 today whether we settle above it, i don't know, but it will be soon. >> all right, dan, come back, we'd like to see you again. >> will do. >> thank you. >> 25 seconds until the opening bell, as i said earlier, we
9:30 am
closed yesterday at 14,968 and change and only 31 point from 15,000, a mark that we closed last friday and didn't close above. where will we go this morning. i'm looking at futures, a good indicator of trading and a gain at the opening bell. that would put us above 15,000. look at this, the opening bell has rung, they are now trading: we're trading slightly to the upside and that's the opening trend, up, up, here we go. 14,971. moving a little higher. i think we could hit 15,000 in the next couple of minutes, we shall see. mixed news for microsoft, sold 100 million licenses in the six months and that's pretty good, but it's going to change some aspects of it, because consumers have been complaining about it. they want to make it easier to use, is that an admission of failure? we'll find out when the stock opens, where is it, up or down,
9:31 am
nicole? >> i wouldn't call it a fail ur, they'll release the next version sometime this year in reaction to some criticisms from the and the customer reaction, and they're working with that. and so, get ready, a new refresh version is coming. >> you're doing your best to support microsoft which you know i own. nicole: oh, do you? >> very good of you indeed. more on this later. the dow industrials are up, and puts them at 993 and climbing a little bit and buy something, somebody, and we'll hit 15 again. and google, this is important, this morning up, but hardly any movement.
9:32 am
862 on google. video game maker electronics arts, teaming up and they're going to make the new "star wars" games and electronic arts, up, and right now up another 2 1/2%. 18 on ea. and to nicole again, tesla, it's up, why is that. nicole: as you were talking about google. there's a story about tesla and google today about auto pilots, self-driving automobiles, and that seems to be the next phase for tesla,as the stock is hitting a new 52-week high. and the building there from california, heads up, tesla is sayingng this driverless technology to the vehicles and discussing these prospects with google. so, if they don't want to say it's striving, because they don't want to say that the car won't turn, but autopilot. >> they want to be in bed with google. who doesn't? >> they sure do. there you go. and nicole, thanks indealed. take a look, here we go, it
9:33 am
could be 15,000 any second. 14,999. come on. can we do this please? we've got a graphic ready to go. 14999, 14, 994. 84, i'm waiting. all right, i give up. and our next guest sayy it's not ben who has been fueling the stock market rally. oh, no, joining us is ed butowsky from dallas. as we wait for the dow to hit 18,000, if it's not ben bernanke pushing this up. what is it. >> it's corporate earnings, stocks are priced based on earnings and since march of 2009. stocks, earnings for corporations have matched, you know, percentage-wise, the rise in stock prices, earnings are now stocks are priced and not based on how much money ben prints. >> now, the stock market anticipates, 6, 9 months down
9:34 am
the road. that they're priced in the fall, early winter of this year? >> stocks are priced based on expectations and i'm starting to see a weakness as we do in the top line revenue numbers and i think it might not be as strong as forecasted, but based on where interest rates are, expected earnings, the earnings can come down, but that's the gain, it's not ben printing money. stuart: if you think that there are stocks that are 15, 20% undervalued, give me two, two stocks that i would know, that's got a name that people know about that are 15 to 20% undervalued, go. >> sure. and acensure, a consulting firm, and oracle is about 17% undervalue. and both of those based on expected earnings are selling below those percentages. >> so, that's abbing censure and
9:35 am
oracle. you expect them to go up later on this year. >> this is on tape, right? so i'm going to say yes. stuart: by the way, you're in dallas, dallas, that's in texas as i well know. 15,000 on the dow. there you go. and right, it just happened, ladies and gentlemen, and while ed butowsky was on the show saying stocks were undervalued. 2 you move that market, butowsky? did you? >> no, ben did, right? kidding. not at all. stuart: you're in texas. are you eagerly awaiting the visit of president obama, how to create jobs? >> he's coming here? >> he yes. the end of this week, the end of this week. >> i think i'm going to miss him unfortunately. stuart: he's going to austin, texas, i believe is the only liberal outpost in texas, but he's going there and talking about job creation. and you've got a smile on your face which implies you knew he was coming. >> no, i really didn't know he
9:36 am
was coming, but austin is that one place where he'll feel very comfortable in texas. stuart: okay. ed butowsky, thank you very much indeed. to the big board again, 15,006, ladies and gentlemen. we expected this. you can get an indication before the market opens as to how things are going to go in the early part of the trading session, it's called the futures market. it's a pretty good indicator. and this morning, they're telling us the dow would go up 35, 40 points in the first few minutes of business and that's exactly what happened. 15,007 as we speak. now, the story that a lot of the country just abuzz about. there's no financial angle here, not anything at all. just an absolutely fascinating story. three women who have been held in a house for a decade found alive in cleveland. police arrested three brothers. they're expected to be charged at any moment now, two of the women were just teenagers at the time of their disappearance. and neighbours heard one of the
9:37 am
women scream for help. they saw her hand reach out of the front door, and she was trying to break free. is t -- here is the neighbor who came to the rescue. >> and every day, every day, i've been here a year, and i barbecuing with the dude. we eat ribs and what not. and listen to salsa music. >> you had no indication that-- >> not a clue that that girl was in that house or anybody else in there against their will. stuart: i can tell you it's a fascinating story and the country gripped by that. and that man you just saw, he's been called a hero today. and a few minutes ago, police say they found a 6-year-old girl in the house and the child might be the daughter of one of the victims. big story, nothing to do with financials at all. and expected hacking on big banks and websites today. and we're monitoring that story by the minute and we'll give you updates as they come in, of
9:38 am
course, and separately the pentagon is accusing the chinese government of hacking our defense industry and wait until you hear china's response to that story. this will be new to us at 10:00. the dow is up 42 points and i have the 7 early movers. better than expected profits, but a soft outlook for the watch maker fossil. up 6% and nice gain and lower than usual temperatures in march meant lower profits for scott's miracle-gro. it's up a buck at 47. we've the got higher sales, but lower profits at molson coors and looking to my right now and they've got the graphic in large time, and i can see it. 2% and i can read it just like that. and hsbc, the biggest bank in europe is up 2%. and disappointing profit at officemax, the company declares a special dividend of $1.50 per
9:39 am
common share and it's down 4 cents. that's it. better than expected profit at directv. it's up 4%. nice gain. higher profits, big, strong outlook from the parent company of the discovery channel, it's down a buck 59. what's with that? back to the big board. 1511 is holding. >> time is money, 60 seconds worth of three big personalities we're bringing to you in our next hour. the fda wants to put warning labels on tanning beds and ban kids under 18 from using them. but you only have to be 15 to get the morning after pill? what's with that? the judge is weighing in. i feel vindicated my wait and see with microsoft stock is paying off. i say that charles payne should recommend it? what does charles say? you'll find out. and gene simmons, the outspoken member of "kiss", for president
9:40 am
obama and then changed his mind. and what about obamacare coming down the line? we'll ask him. and we frequently ask on this program, is college worth it. one college graduate who has no job and is asking relatives for cash. so, was it worth it? clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use day market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies."
9:41 am
♪ (train horn) vo: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities.
9:42 am
9:43 am
we replaced people with a machine.r,
9:44 am
what? customers didn't like it. so why do banks do it? hello? hello?! if your bank doesn't let you talk to a real person 24/7, you need an ally. hello? ally bank. your money needs an ally. >> it's scald an in-- it's called an intraday high and the dow hit it. hit it about a couple of minutes ago and now we're there at 15,000. now this, a utah valley university student sent out a less than traditional graduation announcement and highlighted her, quote, catapult into unemployment. after listening her accomplishments, she cited, none of that really matters, send cash.
9:45 am
kala north wrote that announcement and is with us. >> thank you. stuart: we often ask people on the program, was college worth it? well, you're unemployed, you're graduated, you're in debt, you're asking for cash and i'll ask you the question, was college worth it for you? >> yeah, i definitely think it was. stuart: how come? wait, wait, how -- if you don't have a job, you're in debt, and you're asking for cash, how come it was worth it? on what grounds would you say it's worth it? >> well, you know, i've only been graduated for about ten days, so, the fact that i don't have a job ten days after graduation doesn't really worry me so much, especially in my industry, free-lance work is pretty common, and i do have that lined up and that's kind of important to get your foot in the door, and the free-lance work that i've gotten, i've received through connections that i've made while at school. stuart: okay, so, it was kind of a tongue in cheek announcement,
9:46 am
wasn't it, when you said, hey, send cash. it kind of back fired a bit and you got an awful lot of attention you probably didn't want, right? >> no, i did not expect this much attention. stuart: but, would you do college differently if you had to do it over again? would you choose a different major, for example? would you go to a different college, spend a bit less money? >> i definitely would do it differently. i would probably take a break one year or something before going to school and that would have saved me two years of the wrong major. i would probably still keep this same major, but you know, i'm really not in that much debt. my music scholarship helped pay for a lot of my schooling, so that was nice to have that. stuart: am i right in saying, you started out as a music major, but then, you switched. >> yes. stuart: what did you switch to? >> i switched to doodle media. stuart: that's where you have pea got the free-lance work you've lined up. >> yep. stuart: how many of your
9:47 am
friends, if i may ask, if they've graduated along with you, how many of them have got a firm job right from the get-go? >> probably about half, but they were working in those jobs while they were going to school. stuart: so i get he the impression that, well, you know, you really shouldn't have sent out the request for cash because you're not in that bad a situation, are you? >> no, that wasn't really my intention to ask for cash, when i was creating that, originally ended with, but none of that really matters and i thought that was a little too depressing to end up with so i tried a few different things and none of them worked as well as send cash, and that's the one i stuck with. stuart: i have to ask the question. did you get any cash? >> from like my grandparents and aunts and uncles and stuff like that. stuart: you've been on tv all over the place in the past week and a half it is, and no viewers sent you a dime, really? nothing?
9:48 am
>> one lady messaged me and asked where she could send money, but i don't want charity from strangers. i mean, there's people all around the country and world that need it much more than i do. i mean, donate to a charity. stuart: kayla north, it sounds like you landed on your feet and for you college was worth it. we'll take that, kayla, thanks indeed. >> thank you. stuart: let's go to the gold report because we've got stocks up and i think we've got gold down this morning, yes, we do. down $19 an ounce and puts price of gold at 1450 per ounce. i've got a headline from prime minister you would n minister-- i've got a headline from president obama, and charles and liz will be here momentarily and find out what the president is proposing in just a minute. ♪ everybody has different investment objectives,
9:49 am
9:50 am
ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. we're all totally different. ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.
9:51 am
9:52 am
. stuart: all right. everybody, read this and smile. 15,009. earlier we hit an all-time intraday high of 15,013. that's where we are now. all right.
9:53 am
low income people can live in government housing or receive rental vouchers for decades, literally for decades under current federal housing programs. that could change. in president obama's budget plan there is a provision that would allow more agencies to set limits how long people can stay in federal housing. charles, first of all, i say this will never ever see the light of day, and you say what? >> i'm shocked it's in the budget proposal, it's odd. stuart: i can't understand why. charles: it's sort of out of left field, it's interesting. when i read it, i said i never thought about it because i know people who have been in the projects from day one, you know, never moved out, and they, you know, someone else in the family gets the apartment. it felt like a right for such a long time, i kind of forget it was supposed to be a stop gap sort of measure, but i don't think it will get through liz: i'm with you. stuart: and it's strangely out of character. charles: it is. stuart: this is a limitation of what i presume is an entitlement, certainly, a
9:54 am
benefit. it's a limitation on that. charles: it's like a birth right, almost liz: half the people in public housing are senior and disabled and the other half conceivably could work and there's work requirements, too, and they're not stiff, they're not just hard, work 20 hours a week, and people living rent-free, nearly 21 years in new york city. stuart: that's the average? >> i'm not sure, but up to. stuart: half the people in public housing are disabled or seniors, that's accurate? liz: yeah, it's not fair to the people who could really use the vouchers, people who are working and rent-free, there are others who need them and aren't getting them. charles: it feels like a lot of people from the social part of it, the large housing projects they've been an unmitigated disaster, a cycle of poverty, crime, drugs, it's amazing. i don't know if that compelled
9:55 am
them. i don't know what moveded president on this issue. i'm surprised about it. stuart: let's go full circle, it will never see the light of day. regulators now have bitcoin in their sights. shouldn't they? we'll talk to a man who runs a website for high end bit-coin performance. that will be new at 10 and china's angry response to a pentagon report that says that the chinese government is hacking our defense companies. wait until you see the words they use about us. and restricting tanning beds, if you're under 18, i should say. do they have the infamous tan mom in mind? and gene simmons, outspoken obama critic and business owner. why is he expanding? our new hour of "varney & company" is coming up. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends
9:56 am
and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com.
9:57 am
bjorn earns unlimited rewas for his small business take theseags to room 12 please. [ garth ] bjors small busiss earns double miles on every purchase every day. produce delivery. [ bjorn ] just put it on my spark card.
9:58 am
[ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get the spark business card from capital one and earn unlimited rewards. choose double miles or 2% cash back on every purchase every day. what's in your wallet? [ crows ] now where's the snooze button?
9:59 am
>> on this hour of "varney & company," here is what we have for you. bitcoin. time to regulate? we have the man who sells luxuries with bitcoin as the currency. check your on-line banker brokerage accounts now. homeland security says today is the day when the hackers may attack. the government says get off that tanning bed if you're under 18. plan b is okay at 15, but getting a tan is out of bounds. the judge is here on that. and gene simmons, obama critic and restaurant chain operator, why is he expanding when obamacare is coming?
10:00 am
here is the story of the day for people with money. the dow hit an intraday high earlier and stocks have an incredible run under president obama. i'm going to ask the obvious question. is this big run-up, and by the way, that's a new intraday high that you're looking at right now. 15,017, 18. that's an all-time-- 20, never been higher than that, never touched that before. so, charles, is this because of president obama's policies or despite them? >> despite the policies. one thing people have to realize, president obama came in in the beginning in 2009, but he was elected november 3rd, dow at 9300 and plunged anti-business policies which we've gotten. the good news of course is that scott brown was the first piece of good news, that the democrats focused so much on the health
10:01 am
care bill, squandering their opportunities to do more damage to the fabric of our economy, and so, i think, you know, my theory has been the global economy, really helped the stock market. stuart: you're not buying the ben bernanke theory? >> no, no, i think it plays a role. i don't think that it's climaxed and-- >> i look at income statements, anybody who throws ben bernanke out there, it's like darryl hannah talking about fracking and well water. look at the valuation. stuart: you make the case it's ben bernanke? liz: even though the reserves hasn't been released from the balance sheets, but they're sitting and that's the expectation. i think it's despite president obama because we've had historic gridlock in washington d.c. charles: i agree with that. and that's why i he see the brilliance of ben bernanke, and the fact is i don't know that we can trace any of the money they're printing to stock
10:02 am
purchases, but the heads are suggesting so many people say it is, that others are buying into it. and one day that money will pour into it and we'll get the real-- >> and hey, come on in, nicole, what's your take on the rally which has now taken the dow to 15,000 and i think 22 a moment ago. nicole: right, 15,022 a moment ago indeed. we're seeing record new all time highs and earnings have been improving since the financial crisis and everything has gotten better slowly, of course, and not at the speed that many would have hoped. that, coupled with the printing that we've been seeing from the federal reserve, that helps, too, but it's interesting, a lot of people say you can't fight this momentum. you know, everybody is waiting for this pullback, they're not getting. and a lot of people in the financial world are familiar with, lasero was talking about the s&p 1700 and that the momentum remains to the upside.
10:03 am
stuart: thank you, nicole. i think all three of us can say, the market wants to go up and is going up. nodding of heads on that. charles: to the upside. stuart: and you know, we begin with warnings of a cyber hack on government and financial institutions, possibly today. and according to abc news, the fbi sent out notices, warning of potential disruptions and this comes after the pentagon. this is separate, the pentagon directly accused china of trying to hack u.s. government and military computers, that's a big deal. it's the most direct accusation of hacking against the chinese so far. liz, what can you tell me what china is saying in response to that. imus:. >> chinese statements, that it's groundless, harm u.s. relationship with china and could jeopardize the mutual trust between the governments, but the pentagon report you cite is the first time they've accusing and the pentagon has
10:04 am
gone further, they're saying that china is actually training its military strategist on way to seib ear hack and spies and-- >> this is a half of the story and our side of the story and china's response. there is another side, presumably, america must be engaging in cyber warfare strategy at the very least, isn't it? >> absolutely. >> i don't know that, but i would -- dare i presume, charles? >> it's going to be a major part of the next major conflict around the world, whatever that is. and we see it, we see it all the time. >> but the cyber war dispute, that stretches out into general trade policy, doesn't it? >> it absolutely does and china has been ramping up the cyber spying it's doing, is helping to intensify the military technology improvement and you know, they're actually thought to be spending double the oment on their military technology than what china publicly states, it's a good story, but it gives us, america, maybe, some leverage in the trade disputes
10:05 am
that we have with china, maybe. >> maybe. >> maybe. such a sin nick, you really are. >> and the financial times of london, the austere newspaper, it reports that the cftc, the commodity futures trading commission, looking into regulating bitcoin. our next guest runs a website that sells luxury goods and only takes payments in the form of bit coins. joining us now is alvin silver. the camera is this way, you can see us now, now, alan, i think it's legit to regulate bitcoin on the grounds that it's totally anonymous, and it's being used to purchase drugs and guns, for example, i think it's legitimate for the authorities to exercise some caution and some influence over bitcoin, and i know that's separate from your website, but what do you say? >> yeah, i think that the bitcoin community and essentially, i think, you know, regulation is a matter of when,
10:06 am
not if. and we know it's going to come. and the currency is still in its infancy so we have a ways to go. the eco system is going to develop from here, you know, and they've released guidance as to, you know, how they want to regulate it, but at this point, it's just guidance and i think the government is feeling its way around. >> yeah, we, on our program yesterday. liz claman interviewed charles munger, a guy along with warren buffett. what he said, it's brief, liston what he said about bitcoin. >> i just had to get your thoughts on bitcoin, this digital currency that's out there, that people say, oh, it might be the next big thing, what do you think? >> i think it's rat poison. stuart: just to be precise, ladies and gentlemen, he called it rat poison. and alan, i know you have no influence over charlie munger whatsoever, but i think you can tell the feeling that bitcoin should be regulated. if you think it's regulated do
10:07 am
you think it would help or hurt your business? >> you know, i think we're just acting as a middle man, just facilitating interactions between buyers and sellers in the high end market. this has to evolve and we'll see where it goes and we'll keep a close eye on it. but bitpremier was created to fill the void in the marketplace is evolving. there hasn't been a high end centralized marketplace for these. and the buyers are up to a new offer. >> i want to make sure that i've got to right. you run a website that connects buyers and sellers of luxury items and the currency of exchange. we've got some fancy cars and yachts on the screen in a moment and the currency of exchange using your website is bitcoin, is that correct? >> that's correct. >> we transact only in bitcoin. >> i don't know how you conduct business because as i see it, bitcoin was worth $266 for one
10:08 am
bitcoin, $266 and then it was 50 bitcoin, $1-- 50 for one bitcoin and then $110. how do you conduct business with that kind of volatility? >> we're not going anywhere and we're going to be there for a long time and i think, you know, the eco system matures, the ups and downs are going to smooth out. and they obviously, when the price is up, people will be looking to spend their bit coins and the price is down and sell hers are going to look to sell their items and so, you know, over time, it will smooth out and it will be more stable currency, that it will be, you know, better for the transactions. >> and mr. silver, that's an interesting position you've taken there, because you're the man in the middle and you're opening up a new marketplace, very interesting. alan, bitpremier. >> thanks for having me. stuart: and microsoft, yes, has sold 100 million windows 8 licenses since it was launched.
10:09 am
it is making some changes to its new software, going to try to make it easier to navigate it. nicole, everybody knows i own some microsoft and i see it down. nicole: it's important, obviously, that microsoft is listening to the customers criticisms, complaints, constructive criticism, whatever you want to call it and they're making some changes. so, windows 8, as you noted. sold more than 100 million licenses and plans to release the operating next version sometimes next year and microsoft contrairy to what they're saying in the industry, we feel good about the progress since the launch. so far so good, if you ask them, right now, the stock is down about 1/2 a percent. >> thanks indeed, nicole, now, everybody, you can ridicule me all you like, you can make me a punch line if you joke, go right ahead, but now, i feel vindicated and i'm about to take a victory lap on my ownership of
10:10 am
microsoft stock. charles may have, but my take on investigating in microsoft, 10:27 this morning. all right. maybe obamacare will not bankrupt the country after all. a new study from harvard found that government spending on health care will drop $770 billion over the next ten years. charles, you've looked at this. charles: yeah. stuart: it's a big number. what do you make of it? >> it's hard to understand. other people who understand this kind of stuff better than i do have a hard time figuring out where they're coming up with this number and essentially what they've done, they think the medical spending recently, part of that is from the economy, and extrapolated that and they've made a whole lot of assumptions here, come on, it's one of these things, you know, sometimes, you know, common sense for everybody in harvard that we're going 770 billion in the next ten years, you've got to be out of your mind. and you've got to get-- it's nuts to even --.
10:11 am
stuart: could it be this? could they have projected -- this is how much we're expecting the government to spend on health care the next ten years, but now we find it's going to print, it's going to spend 770 billion dollars less than that big target. spending will still go straight up, but not as much up as we thought previously. is that possible? that's the explanation. >> it's possible, but to charles' point. keiser is saying, listen. the study is likely wrong and underplays the effect of the recession on the slowdown in health care spending. and the fact that it underplays the fact that a lot of companies, in fact, 48% in one city, says dropped health insurance so people have to have an incentive to spent less on health coverage. stuart: you people have no faith in obamacare. charles: higher costs force people to be more careful about how they use their health care dollars. what about the millions of people who are going to get it free? i'm going in and i'm going to tell the doc. i've been going to the emergency
10:12 am
rooms, check me out, my man. do the elbow, do the knee. he says we don't have anything, check the knee, baby, check it all. are you kidding me? this thing is going to burst wide open. stuart: that's good, charles. on to immigration reform, there's a block blog new study from the heritage foundation that says the immigration bill will cost the country 6.3 trillion dollars according to the study, all the costs come from illegal immigrants topping the huge benefits. including social security, food stamps and liz, that's a huge number. 6.3 trillion. i'm skeptical. >> other conservative groups have basically taken pot shots at it because the stead apparently does not acknowledge the economic activity of immigrants who come in, become legal and hire people and create more jobs. so i understand the use of government benefits, but illegal immigrants, i understand that part of it, but the co-author of
10:13 am
the study admitted he did not take into account the entire effect of the new immigration reform bills. >> and apart from that, they're assuming immigrants low down the t totem pole will-- >> it's a bad assumption. stuart: that's not way that immigration works. just look at me. warning labels on cigarettes, beer, beer cans, household cleaning products and now, the fda is setting its sight on tanning beds, even though you could get the morning after bill without a doctor's prescription at 15 years of age, no, you can't get upon a tanning bed. all rise, the judge is next. girl vo: i'm pretty conservative. very logical thinker. (laughs) i'm telling you right now, the girl back at home
10:14 am
would absolutely not have taken a zip line in the jungle. (screams) i'm really glad that girl stayed at home. vo: expedia helps 30 million travelers a month find what they're looking for. one traveler at a time. expedia. find yours.
10:15 am
>> this is an exclusive rights to electronic arts to publish games for mobile devices, pc's and consoles based on the "star wars" movie. that's a big deal. bump by 1%. and fossil shares up after the fashion retailer reported 24% rise in profit and more people buying the popular casual watches in the store. fossil is up 8%, 107 on fossil. the l.a. times reported that oracle chief larry ellison went on a shopping free in malibu an estimated 200 or 250 million on two dozen properties in the last ten years. now, that's a shopping trip. take a look at the dow hitting an all-time intraday high
10:16 am
earlier. right now, it's down to, well, it's up 17 at 14,986. and kids get plan b, but can't lie on a tanning bed. what does the judge say about that. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfio. and with some planning and effort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td ameritrade. given way to sleeping.. tossing and turning have where sleepless nights yield to restful sleep, and lunesta eszopiclone can help you get there, like it has for so many people before. do not take lunesta if you are allergic to anything in it. when taking lunesta, don't drive or operate machinery until you feel fully awake. walking, eating, driving or engaging in other activities
10:17 am
while asleep without remembering it the next day have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as $15 at lunesta.com there's a land of restful sleep, we can help you go there, on the wings of lunesta. >> not quite sure what this means, but listen up. california pot smokers, this might kill your buzz. a california supreme court says local governments have the authority, yes, they do, to ban medical marijuana dispensaries. now, this is just fresh out of
10:18 am
the box, this is the first i'm hearing of this. judge napolitano is here. >> they're banned from certain neighborhoods just like banning a repair facility. they can use their zoning power to restrict them, but-- >> not part of the feds say, no, you can't smoke weed. some local authorities say yes, you can and get it from a medical dispensary. >> this is not part of that dispute. >> this is the zoning authority of a local municipality to decide where specific businesses can be in their town. >> next item for you, judge, just for you. the fda wants to put warning labels on tanning beds and ban kids under 18 from using them. and the f.a.a. wants the new labels to warn about the risk of cancer associated with indoor tanning. judge, obviously, there are a few questions here, start with the big picture for a second. there are warning labels on everything these days, everything. does a warning label, because
10:19 am
it's ubiquitous, now lose the legal immunity you would have. >> you never get immunity from putting the warning label on. there could be a design defense. >> it's a defense, isn't it? >> eighths defense, yes, we told you not to say on the warning, on the bed for more than 45 minutes, you stayed there for three hours, you've got a problem with your skin and now suing us. that's a defense and we're going to tell the jury we warned them, this person we're not going to do this. and one of the problems with warning labels, people don't read them because they're difficult to understand. and don't take the time or effort to read them. >> if they're everywhere, of course we don't read them. >> i bought some firewood at a store in new jersey. >> there's warning labels on firewood? >> yes, they sold it in the state of california and said on it, words to the effect that, california authorities have determined that lighting fires can cause global warning.
10:20 am
there was a warning label on firewood against using it. >> i would not have purchased wood with such an absurd ridiculous label on it. stuart: i did not buy it. charles: you sell firewood, what are you doing buying it? >> get me in trouble here. you take my point. >> i do understand your point. stuart: they're everywhere. >> and i know where your point is taking us to, it's a result of an over litigious society. you have to warn this this, that and written in more than one language. stuart: i the got a paper cut from the new york times and i'm going to sue. there's no warning label on this. that was deliberate. >> and you're going to-- >> look at that, the blood is flowing. >> i see. stuart: wait a second. you can get the plan b at 15, no parental consent over-the-counter. but you can't go on a tanning bed under the age of 18 in and this is-- >> this is really absurd, but the fda is closed with a form of
10:21 am
immunity because the laws that establish the fda basically say, if they rely on any, not the best, not the most, but any scientific evidence, the court will not interfere with their judgment. so, their judgment will be interfered with if it's arbitrary or capricious. but if it's any evidence. the court will not. if there's any scientific evidence that they can use the morning after pill at 15. but you've got a scientist to say anything you want. if there's any scientific evidence that you can use a tanning bed at 18, but not the at 17 and 11 months ap generally, scientific evidence is something accepted in the scientific community. it's not the an oddball, but it's something generally accepted by most people that that community. >> it's the scientific evidence that you have bought and paid for. >> do we really want the
10:22 am
government to be doing this? how about parents decide. >> thank you. >> what tanning beds the kids get on because when the government replaces the parents, the parents-- i don't want to sound like i'm a socialologist, but the parents will let their guard down and the almighty government will be responsible for it, that's not what happened. >> you're so right and you can't believe how frequently right-- >> can we run that all the time? it's so right. . [laughter] >> i'm going to seize the next segment. listen how i do it. >> i'm listening. >> i've been laughed at, i've been ridridiculed. i've been used as a punch line and i've been vindicated by ownership of moth and my take and victory lap are next. we went out and asked people a simple question: how old is the oldest person you've known?
10:23 am
we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ toare you still sleeping?rs. just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers.
10:24 am
the wright brothers became the first in flight.
10:25 am
[ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪
10:26 am
>> all right. we backed off a little from 15,000 and we hit the 15 k mark five days into the trading session and went 15,022, 23. and right now we're around 15,000. watch the space because it's been a remarkable day thus far. and nicole, abercrombie & fitch a winner why? >> because of some positive comments from the analysts and let's talk about wells fargo.
10:27 am
they have some favorites in the group and so abercrombie is one of those. wells fargo raised abercrombie from an outperform market perform. and the department retail stocks there are luke warm on the group and they are still concerned in the nearf cold spring, and also, some tough comparisons and the payroll tax increases. and lack of exciting fashion. and those are all the top parts of this report. and the good news is, they do have some favorites in the group that have some better risk-reward. abercrombie being one of those and also, chicos, gap, michael coors and urban outfitters. >> i know that well. >> and thanks very much, nicole. we're right at 15,000 and the dow is up 30 points and change and charles is going to make you some money. today the stock of the day for him is pegga systems. go. charles: i've got a serious dilemma. and a lot of people, do you
10:28 am
chase the stocks at 52-week highs or look for something that doesn't move. >> what's it do? >> it's a business software, it's a customer relationship, management. they optimize the users, while also innovating the insides. what i'm looking at and what i'm thinking, looking at the earnings and listening to what management has to say, before you see massive hiring, you have to see a lot of them retool the business software and they're all over the globe and 8 of the top ten credit card companies and it's overlooked and made a pullback and the next leg takes it over 30 and it's not a screamer, but i like the risk reward on this. >> he likes the risk reward. all right, everybody. back in a moment for years, i have been laughed at, i have been ridiculed, my colleagues here on "varney &
10:29 am
company" have poked fun at me, there were times when i doubted myself. well, now, i'm beginning to feel that i've been vindicated. i'm about to say, i told you so. and here is my take on investing in microsoft. slow and steady that's how it's been all of these years, i've held on my microsoft shares, while apple zoomed microsoft just sat there. google smashed through $800 a share, priceline doubled, tripled, amazon went straight up, but microsoft was a dud. most of the time it shuffled between 25 and 29 and when it moved above 30 it came straight back down again. through all of this, all the time, i've had to grin and bear it. charles, flat-out laughed at me, of all the experts, quote, unquote, experts that i've been on the program over the years, i can't remember one who has said buy some more, stuart, it's a good deal. however, it's possible, just vaguely possible that i will get
10:30 am
the last laugh. there has been what the experts call a breakout. microsoft has moved up to 33 and received a vote of confidence when a big hedge manager bought 2 billion worth of it recently. a quick in and out guy, those traders had a wild ride and i've slowly been making money, 3% dividend. beats a bank cd and now i've got a modest capital gain. it's not exciting and no way do i recommend my investing stale to anybody. at my age i don't want excitement. i'm not gambling my pension money, but i'm waiting for charles payne to see the light and include microsoft on his moneymakers list. it may be a long wait, but i live in hope that charles will acquire the patience that comes with medicare enrollment. charles: that was absolutely fantastic. here is the thing. it's not your age, it's your wealth. you can afford to be in a stock that is in a modest dividend and
10:31 am
moves up slowly. stuart: no, no, as you approach your golden years, charles, you don't want risk and buy low and sell high. charles: you don't have to trade in and out. things have changed awn make the point because people live so much longer, the of formula, take your age minus from 100 and should be bond allocation diverse stocks. you have to throw that out the window. when you reach a certain wealth level then you don't want to take the risk and what you did was perfect for your situation. >> what would you estimate to be my certain wealth level? >> i'm thinking at least 7 digits, that's all. liz: he has six kids. stuart: and seven grandchildren. i didn't know-- >> better start trading in and out. [laughter] >> are you done? >> no, fantastic. stuart: stop laughing liz: liz: never. stuart: gene simmons, music legends, you want to hear what
10:32 am
he has to say about the president and he's next. my mantra?
10:33 am
trust your instincts to make the call. to treat my low testterone, my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal
10:34 am
in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; problems breathing enwhile sleeping;ul breasts; and blood clots in the legs. common side effects include skin redness or irritation where applied, increased d blood cell count, headache, diarrhea, vomiting, and increase in psa. ask your doctor about the only underarm low t treatment, axiron.
10:35 am
10:36 am
>> a rock icon. gene simmons is opening the third rock and brew restaurant in torrence, california. the outspoken front man for kids, gene simmons joins us from los angeles. welcome back to the program and always good to see you. >> good morning, good morning, good to see me, too. >> and why are you expanding in the restaurant business when obamacare's coming down the pike at you? and we are told that obamacare has good bad news for the restaurant business because he's got to provide health care coverage. >> in the interest of full disclosure, when democrats are in power, i pick on them and when the next republican president is going to be there, he or she is going to get a mouthful from me as well. anybody who holds that seat of power, beware, because i think that america has become what teledine became. it's too big. john singleton took away from the top and spread it around. states rights, my friend.
10:37 am
and so the answer to the question is, believe in america, hire people, if you check fox business a few years abbing when the rang the new york stock exchan exchange, your people caught me on the floor and they said, look, the things are so bad, the dow is about 7,800 what are you doing? i said invest in america. i'm going to take the stupid money i throw away and throw it back in the stock market. we're hovering around 15,000 right now. if you'd done what i told you to do you would have doubled your money. stuart: you don't care, obamacare, here is comes. >> no, of course, no. stuart: you don't care about that. >> no, i think it's horrific, i'm not a supporter of it, i believe that you have to be responsible for your own life. we're all grown up, mommy and daddy stopped struggling you when were you a baby and look, i come from a very poor background, let's not play the gamee he's rich and he's got more money.
10:38 am
should up, i come from the poorest background, my mother made $35 a week, and never a lender or borrower be for the lower economy. and the costs and so on, but the important thing is that we have become a nation where everybody's hand is out. there are those that need it. that's why there are wonderful charities and this is the most charitable country on the face of the planet. don't let the government become a handout. in pure business terms, when the money that goes out of the government exceeds the number that the government takes in, you have 16, to 17 trillion in debt. >> and you're preaching the choir, gene, we like to hear it nonetheless. now, i think you're going, eventually, you want to get 3 h00 operations around the country. >> we are, yeah, we are looking at 100 potential new sites in japan. we have maui, and a philosophy
10:39 am
of giving somebody an experience, like back stage at a rock concert. stuart varney, you're a rock star, but the rest of the world aren't. so if you're not born a rock star, we're going to make you feel like one and i would be remiss in my fiduciary duty if i didn't suggest to go to rock and bruce.com and check it out yourself. >> did you go into them. you're the man, and do you use your name and your presence to promote the restaurants? >> well, of course. and actually, if you care about gluten-free food, you can go in there and get free pizzas. yes, i go, in fact, tomorrow i'm going to be spending most of my time with the powerful and attractive paul stanley at the pacific coast highway we like to call it and soon across the country, looking at a hundred new rockaboo's restaurants and
10:40 am
expand, expand, it's getting better and jobless rates are going down. i'm telling you, there's a wonderful light at the end of the tunnel and there will be another president after this one and economically fiscally, a terrible job. socially i like the man and i think he's got his heart in the right place, but we need business people running political entities because in essence, america is a business, and should be run as such. >> all right. gene simmons, that's why you're a popular guest on "varney & company" and we want you to come again soon, good stuff. gene, thank you. i'm not sure what does that mean? am i missing something there? anyway. the senate passes its version of an on-line sales tax. and after the break, one business owner who says, this will hurt, if it becomes long. and plus, i love the google glass when i wore it on friday. charles thought it was cool. but are we in a minority? ( woman ) hold on, this might get bumpy.
10:41 am
10:42 am
red hot deal days are back. don't waste another minute. it's red hot deal days. get the droid razr m by motorola in white for free. everything droid does in a compact design. or the droid razr hd by motorola in white, with google voice search that understands you the first time. just $49.99. hurry in, sale ends may 12th. powerful devices. powerful network. verizon. > > >> dig sfaus inspect big news this morning. the dow is offering around the 15,000 mark right now. and talking about microsoft announcing big changes to the latest software to make it easy to navigate and more compatible with the smaller tablets after the news it sold 100 million windows 8 licenses. in the months since it launched.
10:43 am
and yahoo! in a 52-week high today. analysts raising the price targets to 31 because of the strong recent stock performance and shares of yahoo! up. and next the price of gold down, nearly 20 bucks an ounce. 1449 is the price. gas prices holding steady at the new normal around 3.50. 3.52 to be precise. and they're going to pass the on-line tax bill, 69-27. will it pass the house? probably not. people who gets heartbu and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur
10:44 am
10:45 am
>> just a few days after the wore the google glass, i thought it was great. here comes word that more people think that google glass will be a flop, that's according to an insider poll. charles, i liked google glass and i liked it because to me it's a concept, something that's going to come in the future. >> i was a skeptic until you tried them on and started doing the features and how quick it was to learn it. listen, and i'm not one to predict trends, but i think at . stuart: granted it may be something of a gimmick because it's brand new, but what's going to happen down the road he when we're tired of smart phones. charles: hands-free everything. not carrying anything. from the big computer to the laptop to the tablet to throwing these on. stuart: i wore the glasses and i asked for weather new york today. and up it popped. charles: the other thing you called out that's kind of weird and trying to figure it out.
10:46 am
stuart: stop it. our next guest, really, and our next guest is outraged by the possibility of making on-line sales tax a reality. she says this will hurt her business. lisa king, founder of brownie points is here. that suggests to me that you make brownies and sell them on the internet. is that accurate? >> that's accurate. we do. stuart: if the internet sales goes through. do you have to start charging sales tax to your customer in whatever state they live? >> what happens is, i'm opposed to it for several reasons, it isn't that the people are going to be paying the sales tax because i know they will be. my issue is with my snaub and what will happen if my business would all of a sudden become compelled to decipher, remit and collect taxes, and the primary
10:47 am
focus of growing my business is all of a sudden out the back door and we're worried about making sure that the taxes are remitted and collected correctly. >> i see that point and the counter argument to that, you could get software real cheap and tell you exactly what sales tax you've got to charge for any location in the country and that's the counter argument. but, there is's another argument here, small businesses would be exempt. you don't have to chart charging that sales tax to people, would you be exempt? >> we would know the be. we've reached that threshold. for us, it's an extremely big concern. no, we would not be. my hope, maybe they would raise the threshold maybe 10 million and we could aspire to that and worry about that. >> there's a chance, it passed the senate a big margin last night, but now it's going to go to the house and they're talking about raising that exemption,
10:48 am
would that satisfy you, 10 million? >> it would satisfy me now, but again, my concern goes back to small business in general. and i think what people are not he realizing is the effect that it has on growing your business. and the fact that it would take my people and myself into a territory that we're not completely familiar with or comfortable with, it opens us up to liability, opens us up to audit because we do not have the expertise and i'm not convinced that the software is the complete solution for it. >> i think you've got a very strong argument, i really do. i wouldn't want to be in your position, having to respond to this vast bureaucracy of the tax authorities all over the country. >> right. stuart: i see your point entirely. what chance-- >> absolutely. stuart: give me some odds here. okay. it passed last night in the senate. 69-27. >> right. stuart: a big margin. and what do you think-- >> i saw that. stuart: what do you think of the chances at the end of the day, we will get an internet sales
10:49 am
tax? >> i actually don't think it's going to pass in the house. i may be optimistic, but if i really had to bet on it, i don't think it's going to pass. and that's my hope. i may be wrong, but that's what i'm betting on today. stuart: i've got a fast question for you, i live in new jersey. >> sure. stuart: if i go on-line and order up some of your brownies from out of state. >> yes. stuart: you're going to have to charge me -- i will. you're going to have to charge me sales tax on the brownies you send to me, is that correct? >> well, at this time, it depends how we're sending it and what it's packaged in and whether or not it's a keepsake. so, it just depends. stuart: another piece of bureaucracy, a maze you've got to get through. we see your point entirely. >> absolutely. stuart: thank you for being with us, and come back again soon. >> thank you, stuart. stuart: president obama heads to texas to, get this, pitch job growth. yeah, texas, he's going to texas, a state that shuns regulation and fosters private
10:50 am
enterprise. a story dripping with irony. it's next. [ lighter flicking ] [ male announcer ] you've reached the age where giving up isn't who you are. ♪ this is the age of knowg how to make things happen. so, why let erectile dysfunction get in your way? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor.
10:51 am
10:52 am
10:53 am
>> this is really incredible stuff. the world's firsthand gun made from a 3-d printer has been successfully fired in texas. 16 parts used to make the gun and 15 were made entirely with a
10:54 am
3-d printer. basically all the parts are plastic so the gun might not show up on metal detectors. charles, i'm not so interested in the gun aspect of this. the idea that you've got a 3-d printer that prints this stuff and i think you're going to take the story further. what have you got? >> i just got an e-mail this morning, the scientists at princeton for the first time created a 3-d bionic, and cells, silver nanoparticles and amazing. >> we've got a picture of it. >> i've got a picture of it for the producers tomorrow. when you start to think of the possibilities of this thing, they're limitless, they're limitless and you know, i've read where they think you can do a 747, obviously, but-- >> no, do a 3-d printer of a john deere track. stuart: so funny, aren't we?
10:55 am
how droll. okay. president obama headed to texas to talk jobs, texas has less taxes, high growth, lower unemployment, almost the exact opposite of the president's plan. president obama is all government all the time liz: yeah. stuart: and goes to texas wildly successful with private enterprise all the time. >> governor perry saying you're going to the right place, texas is bigger than france and basically see they've created more jobs in the past ten years than other states combined and the spending levels, and clearly seem to be doing the right thing. stuart: why did you have to get into that texas was bigger than france liz: look at their unemployment and-- >> because the blueprint that the president works off. e-mac is absolutely right. stuart: very good, charles. more varney after this. everybt investment objectives, ideas, goals, appetite for risk. you can't say 'one size fits all'.
10:56 am
it doesn't. that's crazy. we're all totally different. ishares core. etf building blocks for your personalized porolio. find out why 9 out of 10 large profession investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus, whh includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. all stations come over to mithis is for real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers.
10:57 am
the wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪ stuart: and now this.
10:58 am
lauren hill has to report to jail by july 8. didn't pay taxes for three years. have a comment on this? charles: i do. i bet she would have said i have no problem with obama and high taxes, but the fact of the matter is after a few kids come a couple divorces and a retirement you start to say that taxes are pretty onerous. stuart: was she a tax protester? charles: she simply didn't file for a few years. stuart: who is the other actor? wesley snipes. he says you have no right to tax. charles: he has folks who told him it is not in the constitution and believe it and had about 56 months to think it over in the joint. >> apparently said there's a system imposed upon me, have an economic system imposed upon me.
10:59 am
according to what she is saying. stuart: you can do whatever position you want to take, but you have to pay taxes. charles: somebody will not feel sorry for somebody who made a couple million dollars and didn't pay taxes on it. 2008, 2000 i think earnings were $2.3 million. you are complaining about this country, very few people are going to give in. stuart: is this a first from charles payne? charles: pay your taxes, and if you can't, at least file. i would rather have john gotti out of me than the irs. stuart: thank you very much. back to you now. dagen: i'm dagen mcdowell. connell: i am connell mcshane. talking about the cyber security and the fbi. warning financial institutions they are being targeted again.
11:00 am
dagen: the senate giving the okay to the online sales tax bill. art laffer tells us why he is okay with this or postal. connell: new jersey's governor has weight-loss surgery, thinking about the oval office in 2013? dagen: and then, disney working magic at the box office and the small screen. at look at why the hous house oe mouse is on firm ground. coming up on "markets now." connell: that is your story of the day, chris christie? dagen: absolutely. front page of "the new york post." does his personality change? connell: brett bear coming up to talk about that. nicole petallides at the top of the hour from the new york stock exchange. nicole: good morning. taking a look at a

108 Views

info Stream Only

Uploaded by TV Archive on